Target Picks New CEO In Bid To Win Back Shoppers Amid Plunging Sales, Boycotts
Target has picked a longtime executive to take over as CEO amid plummeting sales and a slumping stock throughout 2025.
Chief operating officer Michael Fiddelke will become Target's next CEO, the retail giant announced on Wednesday, Aug 20. Fiddelke, who has spent two decades at Target, will succeed current chief executive Brian Cornell on Sunday, Feb. 1, 2026.
Cornell, 66, will become the executive chair of Target's board and help Fiddelke, 49, in the transition.
"There is no one better suited to move Target forward than Michael Fiddelke," Cornell said in a statement. "He brings …
Jeff Bezos Selling Billions In Amazon Stock Amid Focus On Politics, Space Travel
Billionaire Jeff Bezos is planning to unload millions of Amazon shares, which could be worth about $5 billion.
Bezos will sell up to 25 million Amazon shares, according to a filing with the Securities and Exchange Commission on Friday, May 2. The sales are expected to be completed by Friday, May 29, 2026.
The shares could be worth up to $5 billion, depending on their value when sold. The tech giant's stock opened at $191.90 per share on May 2, down about 21% from its record high in early February.
Bezos, who serves as Amazon's executive chair, founded the company a…
Layoffs Hit Pandemic-Era Heights As Musk Slashes Federal Jobs, Trump's Widespread Tariffs Begin
The US saw one of its largest waves of layoffs in decades, fueled by billionaire Elon Musk's efforts to purge the federal government, as markets fear the financial impacts of President Donald Trump's sweeping new tariffs.
US employers announced 275,240 job cuts in March, outplacement firm Challenger, Gray & Christmas said on Thursday, Apr. 3. That's the third-highest monthly amount since Challenger began tracking layoffs in 1989, only surpassed by the height of the COVID-19 pandemic in April and May of 2020.
So far in 2025, employers have announced 497,052 job cuts — the highe…
